And Green Packet Now Says .............

Once upon a time, not too long ago, the following were muttered in our financial world...

• Feb 2008: we expect the WiMAX business to be ebitda (earnings before interest, taxes, depreciation and amortisation ) break-even this year,"
• May 2008: we are targeting EBITDA positive by end of next year.
• May 2009: P1 will be EBITDA will break-even from next year.
• Feb 2010: concurred that will be EBITDA positive in the second half of this year.
• May 10: the company remained optimistic that it will be able to achieve an Ebitda break even
• June 2010: Green Packet Bhd’s target to turn earnings before interest, tax, depreciation and amortisation (Ebitda) positive by year-end may be delayed to next year
• Sep 2010: Puan added that Green Packet is maintaining that its Ebitda (earnings before interest, tax, depreciation and amortisation) will break even by the end of this year.
• Nov 2010: "We're confident of breaking even no later than the first quarter. Ebitda (earnings before interest, tax depreciation and amortisation) turnaround is really at the corner," chief executive officer C.C. Puan said at a press conference in Petaling Jaya, Selangor, yesterday.
• Feb 2011: defers its target of being EBITDA (earnings before interest, taxation, depreciation and amortisation) positive to end-2011.
• May 2011: Green Packet Bhd is on track to achieve its EBITDA (earnings before interest, taxes, depreciation and amortisation) break-even target by this year-end, according to the group's managing director and chief executive officer Puan Chan Cheong.
• Aug 2011: ... remained bullish that it will be a "ebitda positive" company by year-end

Oh yeah, we are talking about the one, the one and only one..... GREEN PACKET!

It was really hilarious when the following was written on the Star Biz last Nov 2011: Green Packet makes profit pledge again

• It is a pledge familiar to shareholders. At the briefing, Puan was asked twice if he was indeed confident of delivering an earnings before interest, tax and amortisation (EBITDA) break-even by the end of this year. He did not clearly answer in the affirmative but said that looking at the current figures, he believed that the company was on its way to achieving that goal.

Well on today's Star Biz, a slightly different message was sent out... GPacket poised to turn around

The following statements were made...

• ..... “We are already EBITDA (earnings before interest, tax, depreciation and amortisation) positive at group level as at end 2011. At both levels we will be PAT (profit after tax) positive in 2013,” GPacket group managing director C.C. Puan said in an interview.
  
  “As for P1, it will be an historic year, as in less than four years it will turn EBITDA positive this year. You must realise that we are in an industry where the gestation periods are long.”
  
  For this year, he expects the depreciation for P1 to amount to RM100mil. Hence, that will have an impact on its earnings.
  
  For the third quarter ending September 2011, GPacket reported a net loss of RM24.3mil versus RM13.7mil a year earlier. It is expected to announce its full-year 2011 results later this month...

Oooo lala.....

• “We are already EBITDA (earnings before interest, tax, depreciation and amortisation) positive at group level as at end 2011. At both levels we will be PAT (profit after tax) positive in 2013.

We ARE .... that's what he said..... we shall see.... it's earnings will be out later this month.

• “As for P1, it will be an historic year, as in less than four years it will turn EBITDA positive this year. You must realise that we are in an industry where the gestation periods are long.”

LOL!

Very strange isn't it?

Puan understands and has reminded that they ARE in an industry where the gestation periods are long.. but yet... the record showed that since 2008... he had kept on repeating and repeating and repeating and repeating and repeating and repeating and .......... repeating.........

XD